Shared Ownership Valuation in Kempston

A shared ownership valuation is a RICS Red Book valuation that determines the full market value of your property and the percentage equity you own. This is different from a standard mortgage valuation, which only confirms the property provides adequate security for the lender. Our shared ownership valuations are comprehensive assessments carried out by qualified RICS valuers who inspect the property inside and out, comparing it against recent sales of similar properties in the Kempston area.

The valuation serves several critical purposes for shared ownership owners. For staircasing, it determines how much you need to pay to increase your equity share. For resale, it establishes the price at which you can sell your share to another buyer. For remortgaging, it helps your new lender understand the property's value when considering your application. Each scenario requires an up-to-date RICS valuation that meets the specific requirements of your housing association and mortgage provider.

In Kempston, where the property market has seen consistent growth with an 8% increase over the previous year, getting an accurate valuation is essential. The local housing stock varies from modern detached homes in developments near Bedford Road to older terraced properties closer to the village centre, and our valuers understand how these different property types affect market values in the area. With 44% of properties in Kempston being detached and 34% semi-detached, the market here differs significantly from more urbanised parts of Bedfordshire.

Our valuers use the comparative method of valuation, analysing recent sales of comparable properties in the MK42 postcode area while making adjustments for differences in size, condition, and specific features. We also consider local development activity, including new housing projects in nearby Wixams and Harlington, which can impact property values in the wider Kempston area. This thorough approach ensures you receive a valuation that accurately reflects your property's worth in the current market.

• Staircasing assessments
• Resale valuations
• Remortgage valuations
• Help to Buy valuations
• Mortgage lender requirements
• Housing association compliance

If you are a shared ownership homeowner in Kempston, there are several key moments when you will require a RICS valuation. Understanding when you need a valuation and what to expect can help you plan your next steps in the property market. Our team has extensive experience working with shared ownership properties throughout the MK42 area, giving us unique insight into local market conditions.

Staircasing is one of the most common reasons for obtaining a valuation in Kempston. The process allows you to purchase additional shares in your property, gradually increasing your ownership until you potentially own 100%. With property values in the area having increased by approximately 8% over the past year, many homeowners are choosing to staircase sooner rather than later to lock in their current equity position and reduce their rental payments on the remaining share.

When selling your shared ownership property, a current RICS valuation is mandatory. Your housing association typically has the first right to purchase the property at the valuation price, or they may assist in finding a buyer through their approved scheme. The valuation report provides transparency for all parties and ensures the sale proceeds in accordance with shared ownership regulations.

Remortgaging your shared ownership property may also require a valuation, particularly if you are switching to a new lender or wanting to release equity. Some mortgage lenders may request their own valuation in addition to your RICS report, so it is worth checking their specific requirements before booking an appointment. Our team can provide guidance on what different lenders typically require.

The shared ownership scheme is popular in Kempston and the wider Bedfordshire area, providing an affordable route to homeownership for those who may struggle to purchase a property outright. Several shared ownership properties are available in the Kempston area, including developments near Hilton Close where two-bedroom bungalows have been marketed at around £300,000 for the full market value. Understanding your equity share and the property's current market value is crucial for making informed decisions about your housing options.

When you first purchased your shared ownership property, you bought a percentage share while paying rent on the remaining portion owned by the housing association. Over time, you may want to increase your ownership through staircasing, which requires a fresh valuation to determine the current market value and the cost of additional shares. In Kempston's growing market, where property values have increased by approximately 8% year-on-year, this valuation is essential to ensure you are paying the correct amount for additional equity.

Our valuers understand the local shared ownership market in Bedfordshire and work closely with major housing associations operating in the area. Whether you are looking to staircase, sell your share on the open market, or simply understand your current equity position, we provide clear, accurate valuations that meet all regulatory requirements and give you the confidence to proceed with your next steps.

The housing mix in Kempston is notably weighted towards larger properties, with 44% detached homes and 34% semi-detached properties. This differs from more urban parts of Bedford, where flats and terraced houses are more common. If you own a detached shared ownership property in Kempston, your property may have different market characteristics compared to similar properties in other parts of the borough, and our valuers understand these nuances.

• Accurate RICS Red Book valuations
• Fast turnaround times
• Competitive pricing from £199
• Local Bedfordshire expertise
• Acceptance by all major housing associations